Zacks Investment Research upgraded shares of Fulgent Genetics (NASDAQ:FLGT) from a hold rating to a buy rating in a report released on Monday, Zacks.com reports. They currently have $6.25 price target on the stock.
According to Zacks, “Fulgent Genetics, Inc. is a technology company. It provide genetic testing services to physicians with clinically actionable diagnostic information. The Company’s technology platform integrates data comparison and suppression algorithms, adaptive learning software, advanced genetic diagnostics tools and integrated laboratory process which serves primarily to hospitals and medical institutions. Fulgent Genetics, Inc. is headquartered in Temple City, California. “
Other equities research analysts have also issued reports about the company. TheStreet upgraded Fulgent Genetics from a d rating to a c- rating in a research report on Friday, March 1st. Credit Suisse Group lowered Fulgent Genetics from an outperform rating to a neutral rating in a research report on Friday, April 26th. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $5.68.
NASDAQ:FLGT traded down $0.54 during trading hours on Monday, hitting $5.07. 1,390 shares of the stock were exchanged, compared to its average volume of 16,251. Fulgent Genetics has a 52-week low of $3.02 and a 52-week high of $7.85. The company has a current ratio of 11.33, a quick ratio of 14.44 and a debt-to-equity ratio of 0.05. The firm has a market cap of $102.07 million, a P/E ratio of -26.68 and a beta of 1.41.
Fulgent Genetics (NASDAQ:FLGT) last posted its quarterly earnings results on Tuesday, May 7th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.03). The company had revenue of $5.37 million during the quarter, compared to analysts’ expectations of $5.46 million. Fulgent Genetics had a negative net margin of 20.33% and a negative return on equity of 7.12%. On average, research analysts forecast that Fulgent Genetics will post -0.16 earnings per share for the current year.
In other news, insider Ming Hsieh purchased 8,739 shares of the firm’s stock in a transaction on Tuesday, March 5th. The shares were bought at an average cost of $4.95 per share, for a total transaction of $43,258.05. Following the completion of the purchase, the insider now directly owns 6,579,326 shares of the company’s stock, valued at $32,567,663.70. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 57.80% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in the business. Essex Investment Management Co. LLC lifted its stake in Fulgent Genetics by 9.4% during the first quarter. Essex Investment Management Co. LLC now owns 90,228 shares of the company’s stock worth $537,000 after purchasing an additional 7,747 shares in the last quarter. Financial Advisors LLC acquired a new stake in shares of Fulgent Genetics in the fourth quarter valued at $35,000. Brown Advisory Inc. acquired a new stake in shares of Fulgent Genetics in the fourth quarter valued at $46,000. Renaissance Technologies LLC acquired a new stake in shares of Fulgent Genetics in the first quarter valued at $155,000. Finally, Old West Investment Management LLC raised its stake in shares of Fulgent Genetics by 8.5% in the fourth quarter. Old West Investment Management LLC now owns 434,454 shares of the company’s stock valued at $1,377,000 after acquiring an additional 34,140 shares in the last quarter. Institutional investors own 6.62% of the company’s stock.
Fulgent Genetics Company Profile
Fulgent Genetics, Inc, together with its subsidiaries, provides genetic testing services to physicians with clinically actionable diagnostic information. Its technology platform integrates data comparison and suppression algorithms, learning software, and genetic diagnostics tools and integrated laboratory processes.
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